FAIRFAX, Va., 9 Nov. 2006.ManTech International Corporation -- provider of technologies and solutions focused on mission-critical national security programs for the Intelligence Community and the Departments of Defense, State, Homeland Security, and Justice; the Space Community; and other federal government customers -- has completed a successful incubation and spin-out of its NetWitness information security product group.
The new venture, NetWitness Corporation, has attracted private equity funding and will consist of the core product team from the ManTech-NetWitness group. ManTech will maintain an ownership stake in the new company. Additional financial terms have not been announced.
"ManTech has developed and deployed many proven security technologies now being used by the government which may be candidates for future commercial incubation efforts," says Robert A. Coleman, president and COO of ManTech International Corporation. "NetWitness' success is the blueprint for ManTech to model future technology incubation efforts. The spin-out will allow NetWitness to grow and develop as part of a venture-funded company with management team expertise in early stage product development focused on expansion into commercial applications."
NetWitness is a network forensics analysis product that provides organizations with breakthrough capabilities in network content analysis and risk determination for incident response, investigations, and insider threat related activities. With NetWitness in place, organizations benefit from a more streamlined, timely, and effective incident response and investigative process for both internal and external threats.